Jakarta – The rupiah exchange rate was at Rp14,155 per US dollar in spot market trading on Thursday (19/11) afternoon. Garuda’s currency weakened 85 points or 0.6 percent from IDR 14,070 percent on Wednesday (18/11).
Meanwhile, the reference rate of Bank Indonesia (BI), the Jakarta Interbank Spot Dollar Rate (Jisdor), put the rupiah at Rp14,167 per US dollar or weakened from Rp14,118 per US dollar on Wednesday.
However, the rupiah is not alone. This is because it also loses almost all Asian currencies to the US dollar. Only the Hong Kong dollar strengthened 0.01 percent from the currency of Uncle Sam’s country.
Then, the Malaysian ringgit is minus 0.22 percent, the Philippine peso is minus 0.17 percent, the Indian rupee is minus 0.12 percent, and the Japanese yen is minus 0.1 percent.
Likewise, with the major currencies of developed countries, everything is compact in the red zone. The Russian ruble weakened 0.51 percent, the British pound was minus 0.37 percent, the Australian dollar was minus 0.34 percent, the Canadian dollar was minus 0.2 percent, the European euro was minus 0.13 percent and the Swiss franc was minus 0.11 percent.
Analyst and Director of PT TRFX Garuda Berjangka Ibrahim Assuaibi saw the rupiah exchange rate had turned weak for the increase in the number of positive cases of corona or COVID-19 in recent times. In countries in the European region and the United States.
“There has been an increase in cases not seen since the first wave which has led to a large-scale lockdown of public activity, and hence economic activity is very weak,” said Ibrahim.
Not only in Europe and the US, Australia also imposed lockdowns. This overshadows the Kangaroo Country employment data and lowers the prospects for recovery.
The world currencies are also affected by the negotiations between the UK and the European Union, which are running out of time. The talks looked deadlocked.
Meanwhile at home, Bank Indonesia (BI) cut the benchmark interest rate by 25 basis points from 4 percent to 3.75 percent. This could not strengthen the rupiah from other external pressures.
Anang Fadhilah
